London fintech startup secures $80m investment for international expansion

A London-based fintech has secured multi-million dollar investment to expand its international presence and grow its proposition.

Buy Now Pay Later (BNPL) startup Zilch has raised $80m in a Series B funding round backed by numerous investors including Gauss Ventures and M&F Fund.

The first fully Financial Conduct Authority (FCA) regulated BNPL in the UK, Zilch’s mobile app recently hit number 2 on the App Store charts behind PayPal and its growing customer base is approaching half a million customers.

The funding will be used to launch in the USA and continue the company’s growth in the UK by investing further in product innovation and development.

Philip Belamant, founder and CEO at Zilch, commented: “This funding is a demonstration of the confidence and strength of Zilch’s mission and products.

“By putting the customer first and building direct relationships with each of them, we are doing something no one else in the industry has done before.

“Zilch is far more than a BNPL company. We will very soon be launching in a number of new countries and continue the testing and rapid rollout of alternate ways for our customers to spend with Zilch.”